CW Advisors LLC Takes $490,000 Position in OPENLANE, Inc. $KAR

Key Points

• CW Advisors LLC has invested approximately $490,000 in OPENLANE, acquiring 25,401 shares during the first quarter of the year.
• OPENLANE, Inc. reported a quarterly earnings per share (EPS) of $0.33, surpassing analysts' expectations and showing a year-over-year revenue increase of 11.6%.
• Several institutional investors, including Burgundy Asset Management and Invesco Ltd., have increased their stakes in OPENLANE, which is now predominantly owned by institutions at 99.76%.

CW Advisors LLC purchased a new position in shares of OPENLANE, Inc. (NYSE:KAR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,401 shares of the specialty retailer's stock, valued at approximately $490,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in OPENLANE during the 1st quarter worth $271,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in OPENLANE during the 1st quarter worth $75,000. Northern Trust Corp boosted its position in OPENLANE by 16.0% during the 1st quarter. Northern Trust Corp now owns 1,586,179 shares of the specialty retailer's stock worth $30,582,000 after acquiring an additional 219,261 shares during the period. Burgundy Asset Management Ltd. boosted its position in OPENLANE by 7.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 9,925,661 shares of the specialty retailer's stock worth $191,367,000 after acquiring an additional 647,164 shares during the period. Finally, American Century Companies Inc. acquired a new position in OPENLANE during the 1st quarter worth $2,222,000. Institutional investors and hedge funds own 99.76% of the company's stock.

OPENLANE Stock Performance

NYSE:KAR traded down $0.05 during trading hours on Tuesday, hitting $28.87. 709,703 shares of the company's stock traded hands, compared to its average volume of 889,906. The firm has a market cap of $3.07 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.77 and a beta of 1.38. OPENLANE, Inc. has a twelve month low of $15.44 and a twelve month high of $29.37. The stock's fifty day moving average price is $26.35 and its two-hundred day moving average price is $22.76.

OPENLANE (NYSE:KAR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.09. OPENLANE had a return on equity of 11.65% and a net margin of 8.18%.The firm had revenue of $481.70 million for the quarter, compared to analyst estimates of $453.26 million. During the same period in the previous year, the firm earned $0.19 earnings per share. OPENLANE's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that OPENLANE, Inc. will post 0.95 earnings per share for the current year.

Insider Activity

In other OPENLANE news, EVP Charles S. Coleman sold 59,289 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $27.97, for a total value of $1,658,313.33. Following the transaction, the executive vice president directly owned 53,474 shares of the company's stock, valued at $1,495,667.78. This represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James P. Coyle sold 194,575 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $27.94, for a total value of $5,436,425.50. Following the completion of the transaction, the executive vice president directly owned 36,851 shares in the company, valued at approximately $1,029,616.94. The trade was a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded OPENLANE from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on OPENLANE from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Barrington Research upped their price objective on OPENLANE from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Bank of America upped their price objective on OPENLANE from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.50.

About OPENLANE

OPENLANE, Inc, together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.